Digitalization to be increasingly adopted over the next five years

Over the course of the next five years, maritime suppliers across the value chain will increasingly adopt solutions to address security, overcapacity and accurate cost models, according to a new research from ABI Research.

Digitization solutions, such as big data, blockchain, automation, drones, and robotics, are enabling the maritime freight industry to utilize innovative approaches that will reduce or eliminate non-value-added activities.

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These technologies will benefit the industry, especially considering the fact that global maritime freight transportation revenue is expected to grow from $166 billion last year to over $205 billion in 2023.

In order to achieve this, the industry will have to work with partners within and outside the industry, and startups in connectivity, AI, and more, Susan Beardslee, principal analyst at ABI Research, believes.

This is not a future situation, as examples like Wärtsilä’ s acquisition of Transas supports an intelligent maritime ecosystem and Artificial Intelligence (AI), and Orange Business Service's deal with Cargotec can advance smart cargo handling.